Data firm Euclid Analytics has developed a Wi-Fi-based platform that allows brands to personalize — and influence — in-store shopping decisions.
The platform, Euclid Connect, lets smartphone users opt-in to guest Wi-Fi through a single visitor login, which then allows brands and retailers to provide specialized offers to personalize and influence consumers’ purchasing behavior. The platform is available to retailers, quick-service restaurants and shopping malls.
Once the user logs in on the platform, Euclid can track data points across different locations within the Wi-Fi range. Those data points can help retailers and malls understand how customers engage across different mediums and then take that information to test and learn how to best influence a purchasing decision. Retailers and malls can also direct marketing information through digital and mass media advertising with in-store visits. Further, the contextual engagement with the user can be fine-tuned so the connection can be based on location.
Brent Franson, Euclid’s chief executive officer, said that while data personalization is expected online, brick-and-mortar retailers are just starting to provide the same experience to their customers in the store. He said the company also is working with brands across 65 countries to gather insights to help retailers optimize their marketing and operations.
Driving Franson’s omnichannel focus is the view that retailers still need to understand how consumers experience the physical store, while being influenced by the web. The company tries to achieve that by having a single view of the shopper, one that allows retailers to know what is purchased when in the store and what is purchased online.
Euclid’s platform leverages the Wi-Fi that’s already in the stores to aggregate anonymous raw data. The company said it analyzes more than 10 billion events monthly and 300 million shopping sessions yearly.
Euclid’s venture capital investors include Benchmark Capital, NEA, Cox Enterprises, Gold Sky Capital and Groupe Arnault, the controlling shareholder of LVMH Moët Hennessy Louis Vuitton. Groupe Arnault is a relatively new investor in the data analytics firm, part of the $20 million Series C round the firm closed on in January. The firm has raised an aggregate of $43.6 million.